Taiwan to focus on increasing domestic demand to stimulate economy

2017/01/11 18:39:37

Taipei, Jan. 11 (CNA) Taiwan will pull out all the stops this year to stimulate the economy, with the focus on increasing domestic demand, the Executive Yuan said Wednesday.

Vice Premier Lin Hsi-yao (林鍚耀) said in a report to the Central Standing Committee of the ruling Democratic Progressive Party that in addition to promoting issues on President Tsai Ing-wen's (蔡英文) campaign platform such as social housing, green energy and long-term care, it will also push for economic stimulus measures focusing on expanding domestic demand.

In terms of infrastructure, Lin said, the Executive Yuan will speed up the unveiling of projects related to a four-year, NT$2 trillion (US$62.69 billion) public construction plan.

He said the projects will comprise rail construction, including mass rapid transit, railway and light rail, water and water resource development, sewerage systems, and green energy, as well as digital technology such as smart wideband.

The Cabinet will set short, medium and long-term plans along these directions, Lin said.